Mary, a local real estate agent that I’ve known for a few years (really she was an ex-girlfriend) was showing her clients 100’s of homes and finally, luckily, they find a home they fall in love with and want to submit an offer.
(Yahoo, she can almost see that commission check for all the work she done for her client. And she really does work hard, which I did not see when we were together.
Maybe I made a mistake, screwed-up and let her go? Bummer.)
However, here was one problem that was about to kill the offer.
The offer was submitted with a contingency of the client selling their current home.
And the offer to seller said no to this contingency.
Mary asked what we could do to get her clients into the new home without having to sell their current home.
I told her Mary what you need is a bridge loan.
This will allow your client to purchase the new home without the contingency and move.
Once your client gets out of their current home you can suggest that they clean it up, paint it and stage it for a better price.
Mary said that, “usually a vacant, staged home is a lot easier to sell and goes for a lot more money. “
After talking with Mary’s clients we were able to approve them for a bridge loan and the seller accepted the offer.
It all worked out well for everyone.
The seller sold, the buyer moved into their new dream home and Mary received her commission check and is now selling the vacant, cleaned up home.
This was a win-win-win for Mary. Yes Mary, my ex….
And I’m wondering if she is single and still likes Shushi?
Maybe I’ll ask.
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.